Interim Results
June 19 2003 - 5:06AM
UK Regulatory
RNS Number:5141M
Samedaybooks.co.uk PLC
19 June 2003
SAMEDAYBOOKS.CO.UK PLC
19 JUNE 2003
SAMEDAYBOOKS.CO.UK PLC
CHAIRMAN'S INTERIM STATEMENT
The results for the six months to 31 March 2003 showed a marked improvement when
compared to the comparable period in the preceding year with a profit #134,000
(2002: loss of #128,000).
The continuing business achieved a profit of #118,000 (2002: #38,000) on a
turnover of #3.894m (2002: #3.446m) with the discontinued business contributing
an operating surplus of #16,000 (2002: #3,000).
These results reflect the positive impact both of the changes in the portfolio
of the stores and further reductions in the cost base of the company. While
operating costs rose by 3.7% in the period, reflecting the acquisition of two
shops, sales from continuing business rose by 13%.
In my statement accompanying the accounts to 30 September 2002 I said that the
company believed itself well placed to achieve a much improved trading result
for the current year and this remains the position.
D A Mahony
Chairman
19 June 2003
PROFIT STATEMENTS
Unaudited results for the six months to 31 March 2003
Six months to Six months to Twelve months to
31.03.03 31.03.02 30.09.02
#'000 #'000 #'000
Sales 4,660 4,389 7,770
Cost of sales 2,916 2,638 4,886
-------------- -------------- --------------
Gross profit 1,744 1,751 2,884
Operating costs 1,601 1,710 3,363
-------------- -------------- --------------
Operating profit (loss) 143 41 (479)
Exceptional item - closure cost 0 (160) (460)
Net interest (9) (9) (22)
-------------- -------------- --------------
Profit (loss) for the period 134 (128) (961)
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BALANCE SHEETS
31.03.03 31.03.02 30.09.02
#'000 #'000 #'000
Fixed assets
Tangible assets 1,044 1,366 1,210
Goodwill 16 24 21
-------------- -------------- --------------
1,160 1,390 1,231
-------------- -------------- --------------
Current assets
Stocks 1,654 1,923 1,691
Debtors 91 338 309
Cash balances 13 13 13
-------------- -------------- --------------
1,758 2,274 2,013
Creditors due within one year 1,164 1,325 1,497
-------------- -------------- --------------
Net current assets 594 949 516
-------------- -------------- --------------
Total assets less current liabilities 1,754 2,339 1,747
Creditors due after one year 231 277 253
-------------- -------------- --------------
1,523 2,062 1,494
Provisions for closure costs 160 0 265
-------------- -------------- --------------
1,363 2,062 1,229
======== ======== ========
Capital and reserves
Share capital - equity interests 3,017 3,017 3,017
Share premium account 1,712 1,712 1,712
Profit and loss account (3,366) (2,667) (3,500)
-------------- -------------- --------------
Shareholders' funds 1,363 2,062 1,229
======== ======== ========
NOTES TO THE PROFIT STATEMENTS AND BALANCE SHEETS
1. The results for the year to 30 September 2002 are extracted from the
published financial statements on which the auditors gave an unqualified
opinion. A copy of the audited financial statement has been delivered to
the Registrar of Companies.
2. The results for the six months to 31 March 2003 and 31 March 2002 have been
prepared on the basis of the same accounting policies as disclosed in the
audited financial statements for the year to 30 September 2002.
3. The exceptional costs comprise the loss on the closure of branches.
4. No provision is required for taxation due to the losses brought forward from
prior periods.
This information is provided by RNS
The company news service from the London Stock Exchange
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